Change - Announcement of Cessation::CESSATION OF CHIEF EXECUTIVE OFFICER

Issuer & Securities

Issuer/ Manager
LIBRA GROUP LIMITED
Securities
LIBRA GROUP LIMITED - SG2D82975475 - 5TR
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
06-Dec-2019 18:06:26
Status
New
Announcement Sub Title
CESSATION OF CHIEF EXECUTIVE OFFICER
Announcement Reference
SG191206OTHRC5O3
Submitted By (Co./ Ind. Name)
CHU SAU BEN
Designation
Executive Chairman and Executive Director
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, RHT Capital Pte. Ltd. (the "Sponsor") for compliance with the relevant rules of the Listing Manual Section B: Rules of Catalist of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). The Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Lay Shi Wei, Registered Professional, RHT Capital Pte. Ltd. at 9 Raffles Place #29-01 Republic Plaza Tower 1 Singapore 048619, telephone (+65) 6381 6757.

Additional Details

Name Of Person
CHU SAU BEN
Age
54
Is effective date of cessation known?
Yes
If yes, please provide the date
06/12/2019
Detailed Reason (s) for cessation
Following the resignation of Mr Chu Sau Ben as the Chief Executive Officer, Mr Chu Sau Ben will remain as an Executive Director and Executive Chairman of Libra Group Limited.

Based on its enquiries, the Company's Sponsor, RHT Capital Pte. Ltd., is satisfied that, save for his personal matters, there are no material reasons for the resignation of Mr Chu Sau Ben as the Chief Executive Officer of Libra Group Limited.
Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting?
No
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
No
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
01/02/2016
Does the AC have a minimum of 3 members (taking into account this cessation)?
Yes
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
3
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
4
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Chairman and Executive Director
Role and responsibilities
Overall company operation and business development
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
N.A.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
10.5% of Libra Group Limited
Past (for the last 5 years)
Kin Xin Engineering Pte Ltd
Present
Libra Group Limited
Kin Xin Engineering Pte Ltd
Cyber Builders Pte Ltd
Libra Construction Pte Ltd
Libra Engineering Pte Ltd
YC Travel & Tours Sdn Bhd